ReneSola Ltd Q4 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Marisa Liliam Hernandez - Sidoti & Company, LLC - Analyst : So if you could please clarify the following for me. On the net profit guidance, I think you mentioned $9 million to $10 million in 2022, which suggests that's GAAP basis, correct?

Question: Marisa Liliam Hernandez - Sidoti & Company, LLC - Analyst : So what would be the non-GAAP number that corresponds to that and is comparable to your $14.7 million in non-GAAP net profit for 2021? I don't know if it's just translation of some puts and takes there?

Question: Marisa Liliam Hernandez - Sidoti & Company, LLC - Analyst : Okay. And then just to clarify the mix of projects in 2022. You mentioned the utility scale. Is that 1 big project that you have contracted for 2022? Or is it several ones?

Question: Marisa Liliam Hernandez - Sidoti & Company, LLC - Analyst : Are they all based in the U.S.?

Question: Marisa Liliam Hernandez - Sidoti & Company, LLC - Analyst : Okay. So those utility-scale projects, I thought you said they are COD. Did I get that right? And if so, I want to know...

Question: Marisa Liliam Hernandez - Sidoti & Company, LLC - Analyst : Utility project in Poland, and that's...

Question: Marisa Liliam Hernandez - Sidoti & Company, LLC - Analyst : Okay. So what you are doing in Poland this year on the utility scale side -- are you doing -- are you responsible for the EPC as well?

Question: Marisa Liliam Hernandez - Sidoti & Company, LLC - Analyst : Okay. So how do you manage the materials procurement side of things? Have you already secured modules? What are your thoughts on how to manage that given the inflation environment, obviously?

Question: Marisa Liliam Hernandez - Sidoti & Company, LLC - Analyst : Okay. And of those 300 megawatts, give or take, that you're expecting to do in 2022, how many of those are these larger utility scale projects? Just to have a sense of the mix.

Question: Marisa Liliam Hernandez - Sidoti & Company, LLC - Analyst : When you say half, you're talking half of the megawatt number, yes?

Question: Marisa Liliam Hernandez - Sidoti & Company, LLC - Analyst : As opposed to revenue, okay.

Question: Marisa Liliam Hernandez - Sidoti & Company, LLC - Analyst : Sure. Okay. And yes, on that changing gears a little bit on that -- sorry, before I do that, the 1 project that the timing did not occur in the fourth quarter and you're expecting mostly in the second quarter. Can you share with us how big that project is in terms of megawatts or sale number?

Question: Marisa Liliam Hernandez - Sidoti & Company, LLC - Analyst : Okay. Can you share the size approximately, Yumin?

Question: Marisa Liliam Hernandez - Sidoti & Company, LLC - Analyst : And my final question is, on that receivable write-off, from -- related to the manufacturing business. I understood, Ke, that you said you don't expect any further write-offs. But are there any other receivables or any other sort of assets in your balance sheet related to the manufacturing business other than this last write-off?